Lee, a wealthy businessman, purchased a 120-day, $100,000 non-interest-bearing note on January 01, 2017. If he discounted
Question:
Lee, a wealthy businessman, purchased a 120-day, $100,000 non-interest-bearing note on January 01, 2017. If he discounted the note at 8% p.a. on April 27, 2017, calculate the proceeds of the note.
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Related Book For 
Mathematics Of Business And Finance
ISBN: 9781927737545
4th Edition
Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans
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